ICTG
Breakouts
- Thread starter cashmoney69
- Start date
LECO
aapl 
CCRT
maybe this one will be more clear...
You know cashmore I donât usually comment but come on,
Trading according to breakouts above SMA is crazy
I suggest you look up what 4re is saying on page two
And then after you are done look it up again.
and frankly cash
don't follow 18 year old trader from Lebanon or something
stop reading ET and say to yourself, I can do better
I am the guy who told you long ago, to waste less time on ET and more on charts
Trading according to breakouts above SMA is crazy
I suggest you look up what 4re is saying on page two
And then after you are done look it up again.
and frankly cash
don't follow 18 year old trader from Lebanon or something
stop reading ET and say to yourself, I can do better
I am the guy who told you long ago, to waste less time on ET and more on charts
Thanks Escape...You are right about this trade.
CM,
Here is what I see on this trade. If you would have told me 2 days ago you were going long based on a divergence I would have said way to go, be careful when price gets to 30 due to resistance. But telling me right now that you would go long after breaking out of a 13 day SMA I would say watch out it is too arbitrary and price has already bounced off of resistance. Right now I see conflicting signals for going long and short so I would sit on the sidelines and either going long on a breakout of resistance at 30 (maybe go long around 30.25) or wait for a confirmation and breakout of a bearish flag at about 25.50 (maybe short around 25.25)
The key is to be patient and watch the levels. Look at the chart I drew up for you.
Good Trading To All,
Gary
CM,
Here is what I see on this trade. If you would have told me 2 days ago you were going long based on a divergence I would have said way to go, be careful when price gets to 30 due to resistance. But telling me right now that you would go long after breaking out of a 13 day SMA I would say watch out it is too arbitrary and price has already bounced off of resistance. Right now I see conflicting signals for going long and short so I would sit on the sidelines and either going long on a breakout of resistance at 30 (maybe go long around 30.25) or wait for a confirmation and breakout of a bearish flag at about 25.50 (maybe short around 25.25)
The key is to be patient and watch the levels. Look at the chart I drew up for you.
Good Trading To All,
Gary
You must have read my mind. I had a buy stop at 30.26..but never hit because the stock opened lower like i expected it would. It might be time to buy into the dip..